European Commission cuts 2019 economic growth forecast
|The European Commission, in a report, released this Thursday, lowered its 2019 growth forecast to 1.9% from 2.0% previous as they see mounting risks from Italy.
Key highlights:
• 2018 growth forecast at 2.1% (unchanged) and at 1.7% for 2020.
• Euro-zone inflation seen at 1.8% (1.7% previous) in 2018.
• Euro-zone 2019 inflation seen at 1.8% (1.7% previous) and at 1.6% in 2020.
Forecasts for Italy:
• Sees Italy deficit at 1.9% in 2018, 2.9% in 2019, 3.1% in 2020.
• Italy 2018 growth forecast at 1.1% vs. 1.3% previous.
• Italy 2019 growth forecast at 1.2% and for 2020 at 1.1%.
German economic forecasts:
• Germany 2018 growth forecast at 1.7% (previously 1.9%).
• Germany 2019 growth forecast at 1.8% (previously 1.7%).
• Germany 2020 growth forecast at 1.7%.
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